Saturday, April 21, 2007

Carnival Highlights For The Week #10

Here are the Carnivals from this past week that I am reading :

The Carnival of Personal Finance #96 is organized by All Financial Matters.My Carnival choice is Maxing Out Retirement = Saving Too Much? by Personal Finance Advice, which numerically addresses the question of whether someone saved (and sacrificed) "too much" in a specific example. His conclusion estimated the person was saving about 15% of a $100,000+ salary, and was able to do so and "still have fun."
The concept of over saving and over sacrificing is one of the hot topics in the Personal Finance Blogosphere. My personal bias is that a better future always requires some sacrifice - e.g. getting higher education for a better paying job, foregoing some things for a comfortable retirement. As long as I can eat well, have good shelter and be safe, I don't actually need too much more :-)
The inaugural edition of the Carnival of Financial Planning is hosted by The Skilled Investor.My Carnival pick is 15 Financial Lessons from the Demise of Anna Nicole Smith (Yes, I’m Serious) presented at Credit Card Lowdown, which shares 15 estate planning tips learned from her situation.
While some of the tips may have more relevance for Ms. Smith's situation (e.g. - don't do drugs), the following were ones that were relevant to me:
2. Hire a good lawyer.
3. Draw up a proper will.
4. Include contingencies in your will or trust.
5. Don't procrastinate.
6. Beware of estranged relatives.
12. Appoint guardians for minor children.
13. Set up trusts.
The Carnival of Education #115 is at Dy/Dan.My Carnival selection is by What It's Like On The Inside, who wonders How Did We Survive To Adulthood? without car seats, safety belts, bicycle helmets, rubberized playground mats, and hand sanitizers during our childhood.
While I would never not use a car seat, safety belt, or a bike helmet for our daughter, I can't help but wondering if we are creating a "less careful" adult population in the future. The same principle can probably be applied to children who are "protected" from making financial choices while growing up.

I hope you enjoy reading these Carnivals and finding ideas you can use.

Check back on Saturday for the next Reflections and Musings segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2007 Achievement Catalyst, LLC

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